Councils reassure employees over Iceland banks' big freeze

Brockett, James
October 2008
People Management;10/30/2008, Vol. 14 Issue 22, p11
The article reports on the reassurance given by local authorities with cash frozen in Icelandic banks to staff that the wrangling will have no immediate effect on the workforce. The government has promised assistance to any councils in particular difficulty and set up a rapid response unit to provide financial advice where needed. Hertfordshire County Council was one of the organisations affected, with £28 million invested in Icelandic banks. Hundreds of other organisations, including charities, have money tied up in Icelandic banks.


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